Tuesday, July 23, 2013

Broadcom Posts Q2 Revenue of $2.09 Billion, up 6% YoY

Broadcom reported Q2 net revenue of $2.09 billion, representing an increase of 4.2% compared with the $2.01 billion reported for the first quarter of 2013 and an increase of 6.0% compared with the $1.97 billion reported for the second quarter of 2012. The net loss (GAAP_ was $251 million , or $.43 per share (basic and diluted), compared with GAAP net income of $191 million , or $0.33 per share (diluted), for the first quarter of 2013 and GAAP net income of $160 million , or $.28 per share (diluted), for the second quarter of 2012.


The net loss for the second quarter of 2013 included a purchased intangible impairment charge of $501 million, or $.87 per share, which was primarily related to Broadcom's acquisition of NetLogic Microsystems.

"Broadcom delivered solid revenue and gross margins in Q2 with tightly managed sequential growth in operating expenses. This combination of financial discipline and in-line revenue enabled us to deliver non-GAAP earnings per share ahead of First Call consensus," said Scott McGregor, Broadcom's President and Chief Executive Officer. "Looking forward, we see continued growth driven by our industry leading portfolio of wired and wireless communication platforms."

http://www.broadcom.com

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